EU Toughens Sanctions on Russia

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Naftali Bendavid and Matthew Dalton BRUSSELS--European Union foreign ministers on Tuesday toughened sanctions on Russia following the crash of Malaysia Airlines Flight 17 in eastern Ukraine, but they avoided adopting an immediate broad arms embargo, suggesting a split over ...

Australian Inflation Meets Expectations

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By James Glynn SYDNEY--Australian consumer prices rose 0.5% in the second quarter from the first and were up 3.0% from a year earlier, the Australian Bureau of Statistics said Wednesday. The numbers were precisely in line with economist estimates ahead ...

Singapore June CPI Rise Slows on Easing Car-Price Growth

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Chun Han Wong SINGAPORE--Singapore's consumer prices rose at a slower-than-expected pace in June mainly owing to decelerating growth in car prices. The consumer price index rose 1.8% year over year compared with a median estimate of 2.6% rise in ...

LONDON MARKETS: U.K. Stocks Edge Up After BOE Minutes; BHP Advances

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Carla Mozee, MarketWatch LONDON (MarketWatch) -- U.K. stocks nudged slightly higher Wednesday after minutes from the Bank of England's July meeting showed policy makers unanimously voted to hold interest rates unchanged, and miner BHP Billiton PLC advanced after a ...

Flat Oil Prices Reflect Mixed Signals

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Cassie Werber Crude-oil futures trundled along Wednesday, pushed and pulled by different factors, none of which seemed able to make a decisive impact on the price. High demand in the U.S., which has been supporting prices there, looked to ...

Oil Futures Slightly Lower Ahead U.S. Stockpile Data

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Eric Yep Crude-oil futures extended losses in Asian trade Wednesday on bearish U.S. stockpile data, and as markets await the next wave of sanctions against Russia. On the New York Mercantile Exchange, light, sweet crude futures for delivery in ...

RBA Hopes to Get China Investment Quota Soon

TODAY: July 23, 2014 PUB DATE: July 23, 2014

SYDNEY--Australia's central bank said it hoped shortly to obtain a quota from China allowing Australian financial institutions to invest in the mainland, opening a path to investment in Chinese bonds and equities traded directly in Renminbi. The Reserve Bank of ...

EBRD to Stop New Investments in Russia

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Paul Hannon The European Bank for Reconstruction and Development said on Wednesday that it won't make any new investments in Russia in response to sanctions on the country announced by the European Union last week. The sanctions were announced ...

BOE' Has No "Preset Timing" For First Rate Move

TODAY: July 23, 2014 PUB DATE: July 23, 2014

LONDON--Bank of England policy makers have no "preset timing" for a first rise in their benchmark interest rate when they met in July, and still see arguments for and against an early move. Minutes from the meeting released Wednesday showed ...

Bet on Failed Bank IndyMac Creates Windfall

TODAY: July 23, 2014 PUB DATE: July 23, 2014

An investment group backed by John Paulson, George Soros, Michael Dell and Christopher Flowers stands to gain more than $3 billion from a bet made on a failed lender during the depths of the financial crisis. The group's 2009 purchase ...

Euro Falls Against Dollar, Yen Ahead of Data

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Hiroyuki Kachi The euro weakened against its rivals in Asia trade Wednesday, hitting fresh multi-month lows against the dollar and the yen, underscoring how the common currency is vulnerable to selling pressure ahead of major economic data in the ...

China Banking System June Net Forex Sales 88.28 Billion Yuan

TODAY: July 23, 2014 PUB DATE: July 23, 2014

BEIJING--China's central bank and financial institutions sold a net 88.28 billion yuan ($14.2 billion) of foreign currency in June, compared with a net purchase of 38.657 billion yuan in May, according to calculations by Dow Jones from central bank data. ...

China's Huatong Road & Bridge Avoids Bond Default

TODAY: July 23, 2014 PUB DATE: July 23, 2014

BEIJING--A Chinese company facing a $64.5 million bond repayment on Wednesday found a way to pay back investors at the last minute, averting a potentially unsettling default in China's fast-growing debt market but raising concerns over deepening moral hazard. Huatong ...

Spanish Growth Quickens in Second Quarter -- Update

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By David Román MADRID--Spain's economy grew at its fastest pace in six years during the second quarter, in contrast to the rest of the euro zone where growth appears to have stalled. The Bank of Spain said Wednesday that Spanish ...

Polish Central Banker: No Reason for Imminent Rate Cuts

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Patryk Wasilewski WARSAW--Poland's rates panel has no reason to deliver an interest rate cut soon, said one of the panel's members Andrzej Kazmierczak on Wednesday. He made the comment after the nation's statistics office said retail sales were much ...

Detroit Pension Leaders Express Relief About Debt-Cutting Plan -- Update

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Matthew Dolan and Andrea Gallo Leaders of Detroit pension funds expressed relief Tuesday after voting results showed pension holders endorsed the Motor City's historic reorganization plan, but bond insurers voiced continued opposition, signaling a bumpy road ahead in bankruptcy ...

BOJ's Nakaso Says Recovery in Exports 'Sluggish'

TODAY: July 23, 2014 PUB DATE: July 23, 2014

SHIZUOKA, Japan--Bank of Japan Deputy Gov. Hiroshi Nakaso said Wednesday that the recovery in the country's exports has been "sluggish" and slow by historical standards, highlighting how lackluster shipments abroad have become a major debate topic among central bankers. "While ...

South Africa Inflation Rate Steady at 6.6% in June

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Patrick McGroarty JOHANNESBURG--South Africa's annual inflation rate remained at 6.6% in June, well above the central bank's target ceiling. The South African Reserve Bank said last week that inflationary pressure was the main reason it had decided to raise ...

CURRENCIES: Pound Drops Below $1.705 After BOE Minutes

TODAY: July 23, 2014 PUB DATE: July 23, 2014

By Sara Sjolin, MarketWatch LONDON (MarketWatch) -- The pound erased gains on Wednesday after minutes from the Bank of England's July meeting showed all members voted in favor of keeping monetary policy loose. Sterling (GBPUSD) fell to $1.7050, from $1.7060 ...